Best Sunshine vice president Browne files for bankruptcy
Best Sunshine International, Ltd. vice president Donald R. Browne has filed a Chapter 13 Bankruptcy petition in the U.S. District Court for the NMI.
Under Chapter 13 Bankruptcy, debtors propose a repayment plan to make installments to creditors over three to five years. Also known as reorganization bankruptcy, it enables individuals with regular income to develop a plan to repay all or part of their debts, according to U.S. courts.
Attorney Alexis Fallon filed yesterday the bankruptcy petition for Donald Browne and his wife, Sarah A. Browne.
Mr. Browne listed casino vice president as his occupation and named Imperial Pacific International as his employer’s name.
Mr. Browne said his monthly gross income is $21,154, but his monthly take home pay is $15,882. Mrs. Browne said she is not employed.
The couple claimed that their total assets are $218,533 and their total liabilities are $178,562.
The couple’s debts are primarily consumer debts, including several credit cards.